Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
Oil Prices Bounce Back as Middle East Concerns and U.S. Elections Loom
Oil prices saw an uptick in early Asian trade on Tuesday after significant losses on Monday due to eased concerns over an escalating Middle East conflict. Brent crude futures for December gained 0.7% to reach $71.94 per barrel, while West Texas Intermediate crude futures similarly rose 0.7%, hitting $67.87 per barrel at 00:17 GMT.
The recent downturn followed an Israeli strike over the weekend, which notably avoided Iranian oil and nuclear assets. This limited fear of a severe escalation in regional conflict and led traders to reduce the previously high-risk premium in oil prices.
Middle East Tensions and Retaliation Threats
Despite Monday's market reaction, tension in the Middle East remains high. After Israel’s retaliatory strike in response to Iran’s October attack, Tehran threatened potential retaliation, keeping supply risk alive. Israel has signaled no intent to ease military actions against groups like Hamas and Hezbollah, reducing prospects for a truce.
Upcoming U.S. Election and Economic Data Impact
Market sentiment remains volatile ahead of the upcoming U.S. presidential election, with traders closely monitoring the race between Donald Trump and Kamala Harris. A potential Trump victory is expected to lead to inflationary policies, which could impact global oil markets.
Adding to the uncertainty, upcoming economic indicators from China and the U.S. – including the Purchasing Managers Index (PMI), U.S. GDP, and the PCE Price Index – will provide further insight into oil demand trends.
